Avalanche (AVAX) is gaining bullish attention as analysts identify an inverse head-and-shoulders pattern that may signal a trend reversal for the AVAX price if key support remains intact.
A brief pullback is still possible before further upside. Meanwhile, Avalanche has partnered with GoKite AI to expand AI-powered blockchain payments for autonomous digital agents.
At the time of writing, AVAX is trading at $6.44 with a 24-hour trading volume of $254.33 million and a market capitalization of $2.78 billion. Despite the 4.55% loss over the last 24 hours, the AVAX price structure and network expansion point to a bullish reversal ahead.
Source: CoinMarketCap
Also Read: AVAX Price Eyes 30x Rally as Avalanche Gains $700M in Tokenized RWAs
AVAX Price Eyes $8 as Bullish Pattern Emerges
According to the crypto analyst Umair Orakzai, the AVAX price is back in focus after completing a bullish divergence that delivered a 12% price gain.
Analysts now highlight a developing inverse head-and-shoulders pattern on the daily chart, a formation often linked to trend reversals. Holding above the key $6.32 support level is considered essential to preserve the current bullish outlook for the AVAX.
Source: Umair Orakzai’s X Post
If the buyers are able to regain control of the neckline of the pattern, then according to analysts, the AVAX price could very soon be aiming for the $8 level.
But liquidity is still being concentrated in the region of $5.60, suggesting that there may be a temporary drop before the breakout takes place.
Avalanche Expands AI Payments With GoKite AI
The data from Avalanche further highlighted that the network has announced the launch of GoKite AI as the first ever AI agent within the Avalanche Payments Collective, which marks a great step in the realization of payments based on AI in the blockchain.
The firm observed that payment systems have continuously developed through time, and the next stage involves AI agents capable of conducting digital economies and transactions.
Source: Avalanche’s X Post
According to Avalanche, artificial intelligence bots are increasingly making their way into the economy, hence creating a necessity for payment platforms tailored to autonomous entities.
In collaboration with GoKite AI, the Avalanche Payment Collective aims at enabling transactions, asset management, and smooth functioning for intelligent bots through its payment platform.
Despite the bullish price predictions and network expansion, the AVAX price is still moving in the downward direction. This move is also affected by the general market trend as the BTC price has started to move downward.
What Happens Next?
For the future, AVAX must remain above $6.32 for the bulls to maintain their bullishness. In case the coin manages to move above the neckline level in the inverted head and shoulders pattern, price gains may accelerate to $8.
Besides, development in the GoKite AI cooperation between Avalanche may positively impact the network’s usage rate.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read: Avalanche Hits 4 Million Transactions As AVAX Eyes 46% Rally Toward $10 Price Target
